29-06-05
Cuban leader Fidel Castro has expressed full backing for an energy union at an oil summit attended by the 15 Caribbean nations.
"The union of countries and the integration could make feasible a solution to
the energy problem," Castro told the summit hosted by Venezuela in the
north-eastern city of Puerto la Cruz.
He said he has official reports indicating that oil prices could reach a record high at $ 150-200 in the future.
"Who in the Caribbean will be able to pay price above 100 dollars for a barrel
of petroleum? Only the United States, the country that knows about the debacle
in energy reserves," he warned.
The Cuban leader accused the United States of persisting in the "crazy war" in Iraq in a bid to get hold of 40 oil wells operating in the Arab country, as part of a plan to cope with future energy crises.
Castro arrived in Puerto la Cruz, 300 km east of Caracas, to participate in the
first Summit of the Caribbean on Energy, where Venezuelan President Hugo Chavez
launched an energy alliance known as the PetroCaribe initiative.
Chavez promised preferential oil prices for the 15 Caribbean members.
Venezuela will pick up 40 % of the cost if oil tops $ 50 a barrel, and should it
hit $ 100 a barrel, the oil-rich country "would pay 50 % for signatory
countries," he said.
Source: Xinhua